HomeMy WebLinkAbout83-122WH~REAS, the Board of Supervisors, pursuant to Resolution No. 75-82,
establ~shed a County Service Area Loan Revolv9ng Fund; and
WHEREAS, Government Code Section 25270.9c provides that a County may
approprfate any of its avai7able monies to such fund in an amount not to exceed
$1,000,000.00; and
WHEREAS, said Section 25210.9c further provides that said revolving fund
sha17 be reimbursed from monies made availabTe from a benefiting service area and
that no sums shall be disbursed from the revolving fund until the Board of
Supervisors has, by resolution, established a method by and term (not exceeding
five years) within which the Cpunty Service Area is to reimburse ~he revolving fund,
and specified that the service area shall also reimburse ~he funds for in~erest at
the current rate per annum received on similar types of investments, as determined
by the County Treasurer; and
WHEREAS, the Bu~te Cou~~y Board of Suparvisors has determined that there
is a need to mainta~n a balance in the revolving fund; and
WHEREAS, the Butte County 8oard of Supervisors has determined there is a
need to provide monies to County Service Area #30, Vailombrosa Lighting and F9re
Hydrants.
NOW, THEREFORE, BE IT RESOLUEp by the 8utte County Soard of Supervisors
that:
1. There is hereby appropriated, from the County General Fund Appropriation
for Cont~ngencies to the Gounty Service Area Revolving Fund, the sum of $5,500.00.
2, $5,500.b0 is to be disbursed from the Revolving Fund to County Service
Area #30, Val7ombrosa Lighting and Fire Nydrants.
3. The s.um disbursed to County Service Area #30, Vallombrosa Lighti_ng and
Fire Hydrants, shall be reimbursed to the Revolving Fund according to authorized
s~atutes.
4. Cnunty Service Area #30, Vallombrosa Lighting and Fire Hydrants shall
also reimburse the Revolvinq Fund for interest at a rate per annum equal to that
earned by the County on similar types of investments, as determined by the County
Treasurer.
RESOLUTION APPROPRIATING MONIES TQ COUNTY SERUICE
AREA LOAN FUND FOR COUNTY S~RVICE AREA #30,
VALLOMSROSR LIGHTING A~D FIRE HYDRANT
5. Rs the money is reimbursed to the Revolving Fund by County Service
Area #30, Vallombrosa Lighting and Fire Hydrants or from any other county service
area to which a loan has been made, the County Auditor is directed to transfer any
such monies which cause the cash balance of the Revolving ~und to exceed $20,000.00
from the Revolving Fund to the County General Fund.
PA5SED AND ADOPTED by the Board of Supervisors of the County of Butte
this 12th day of Juiy, i983, by the fo7lowing vote:
AYES: Supervisors Fulton, Moseley, 3araceni, Wheeler and Chair polan
NOES: ~one
ABSENT: ~one
NOT VOTI~G: None
~1,~
ELEAI~OR M. BECK~R, County Clerk
and ex-officio Clerk of the
Board of Supervisors
~ JANE OLAfV, hair of ~he
~ Butte County Board of Supervisors
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ATTEST:
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